Journal

Journal

A journal, commonly known as the Book of Original Entry or the Day Book is a book of transactions recorded in a chronological order. Usually, transactions are recorded in a journal before they are recorded in a ledger account. The details entered to record one transaction in Journal is known as a Journal Entry. The journal entry follows the double entry system of bookkeeping and has a debit and credit entry to it.

    • Related Articles

    • Recurring Journal

      Recurring Journal is an accounting entry which is repeated periodically in some cases. Recurring journals is required for recording transactions like salary, amortization, recurring purchases, recurring sales etc., The same entries with the same ...

    • Ledger

      A Ledger is a book where journal entries are posted into individual ledger accounts in a chronological order. A ledger account is maintained to calculate the account balances at the end of every month and to summarize the financial information from ...

    • Blog

      The short form of "web log." A blog is a collection of journal-like articles written about a particular topic and published on a website. New articles are added frequently and comments from users are encouraged. Anyone can publish a blog. Successful ...

    • Reconciliation

      Reconciliation is the process of comparing a bank statement with the bank ledger (chart of account) entries to correct any discrepancy in the book of accounts. All the companies perform reconciliation to ensure that the accounting is in line with the ...

    • Revenue

      The income from operating and non-operating activities of a business like sale of goods or services, interest income, etc is known as the revenue for a business. Revenues help to increase the value of Assets and decrease the value of liabilities in a ...